Shares of Oritani Financial Corp. (NASDAQ:ORIT) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Analysts have set a one year consensus price objective of $17.00 for the company and are forecasting that the company will post $0.29 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Oritani Financial an industry rank of 165 out of 255 based on the ratings given to its competitors.
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A number of equities research analysts recently commented on ORIT shares. TheStreet upgraded Oritani Financial from a “c+” rating to a “b” rating in a report on Thursday, January 24th. BidaskClub upgraded Oritani Financial from a “hold” rating to a “buy” rating in a report on Friday, January 25th. ValuEngine upgraded Oritani Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded Oritani Financial from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th.
In related news, Director Judith Schumacher-Tilton acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $170,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of Oritani Financial by 2.4% in the second quarter. Northern Trust Corp now owns 797,978 shares of the bank’s stock worth $12,927,000 after acquiring an additional 18,794 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Oritani Financial by 11.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 357,385 shares of the bank’s stock worth $5,558,000 after acquiring an additional 37,058 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Oritani Financial in the third quarter worth about $155,000. Renaissance Technologies LLC increased its holdings in shares of Oritani Financial by 5.8% in the third quarter. Renaissance Technologies LLC now owns 1,720,300 shares of the bank’s stock worth $26,751,000 after acquiring an additional 94,633 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Oritani Financial by 8.1% in the third quarter. Wells Fargo & Company MN now owns 119,169 shares of the bank’s stock worth $1,853,000 after acquiring an additional 8,955 shares in the last quarter. Institutional investors own 65.88% of the company’s stock.
Shares of ORIT stock traded down $0.18 on Thursday, reaching $16.92. 247,100 shares of the stock were exchanged, compared to its average volume of 238,054. The company has a market cap of $768.33 million, a P/E ratio of 14.71 and a beta of 0.60. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.93. Oritani Financial has a one year low of $14.07 and a one year high of $17.20.
Oritani Financial (NASDAQ:ORIT) last released its quarterly earnings data on Thursday, January 24th. The bank reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $27.67 million during the quarter, compared to the consensus estimate of $26.20 million. Oritani Financial had a return on equity of 9.62% and a net margin of 33.81%. As a group, equities research analysts anticipate that Oritani Financial will post 1.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Friday, February 8th will be issued a $0.25 dividend. The ex-dividend date is Thursday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 5.91%. Oritani Financial’s dividend payout ratio is presently 86.96%.
Oritani Financial Company Profile
Oritani Financial Corp. engages in the business of holding the common stock of Oritani Bank. It also operates as a holding company of limited liability companies that own a variety of real estate investments. The company was founded in 1998 and is headquartered in Township of Washington, NJ.
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